MabVax Therapeutics Holdings, Inc. filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on March 21, 2019. The debtor seeks the Court’s approval for the sale of substantially all its assets to BioNTech research and development, Inc., the stalking horse bidder, for a purchase price of $3.70 million in cash, pursuant to the asset purchase agreement, dated March 20, 2019. To qualify as a qualified bidder, interested parties should submit their bids by May 2, 2019, along with good-faith deposit in the amount of $0.37 million or 10% of the bid price. The initial minimum overbid should be in the amount of at least $4.24 million more than the combined amount of the purchase price provided for in stalking horse in Asset purchase agreement. The debtor has scheduled an auction on May 6, 2019. At the auction, the subsequent bids would be in increments of $0.1 million. The stalking horse bidder would be entitled to a break-up fee of $0.19 million and expense reimbursement of $0.25 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for May 15, 2019. The stalking horse bidder is represented by Dianne Coffino and Martin Beeler of Covington & Burling LLP as legal counsel.